Karachi: Fazal Cloth Mills Limited announced a significant leadership restructuring on June 11, 2026, following the recent election of directors. The changes were ratified in a board meeting held on the same date. Mr. Sheikh Naseem Ahmed has been elected as the Chairman of the Board of Directors, while Mr. Rehman Naseem has been appointed as the Chief Executive Officer for a three-year term, effective immediately.

The board meeting also resulted in the formation of several key committees. The Board Audit Committee will include Ms. Parveen Akhtar, Dr. Shoukat Malik, Mr. Faisal Ahmed, and Mr. Amir Naseem Malik. The Human Resource & Remuneration Committee will be composed of Dr. Shoukat Malik, Mr. Amir Naseem, and Mr. Abbas Mukhtar.

Furthermore, the Risk Management & Strategic Planning Committee will feature Mr. Masood Karim, Mr. Rehman Naseem, Mst. Parveen Akhtar Sheikh, and Dr. Shoukat Malik. The Nomination Committee will consist of Mr. Sheikh Naseem, Mr. Rehman Naseem, Mr. Faisal Ahmed, and Mr. Muhammad Mukhtar. Lastly, the Sustainability & ESG Committee will include Mr. Rehman Naseem, Dr. Shoukat Malik, Mr. Masood Karim Sheikh, and Ms. Parveen Akhtar Malik.

According to information available from the Pakistan Stock Exchange (PSX), these developments are crucial for the company's strategic direction and governance. The restructuring aims to enhance corporate oversight and ensure robust strategic planning.

The company has disseminated this information to the certificate holders of the exchange, ensuring transparency and compliance with regulatory requirements.